We Invest In Deeply Discounted,
Cash-Flowing San Francisco Apartments
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We're operators and investors who specialize in well-located assets that aren't managed or priced like they should be.
$1.5Bn +
Capital placed since 1990
35+ Years
Operating through market cycles
4,000+ Units
Historical ownership
of full-cycle deals
21.44% IRR
Historical returns
on full-cycle deals
PICKING THE RIGHT MARKET, ASSET, AND TIMING IS KEY
Our strategy reliably delivers on all three in
the most under-rated market of the century
We Focus on Rent-Controlled Buildings With Below-Market Rents.
We buy multifamily properties in strong neighborhoods where long-term tenants, old systems, or deferred maintenance have kept income and pricing below where they should be.
We see that as a starting point, not a problem.
We’re Not Just Investors —
We’re Operators
We run every building ourselves top to bottom.
From leasing and compliance to renovations and upgrades, nothing is handed off. Our team knows each property inside and out, applying city knowledge, resident care, and upgrade strategies (like unit splits or solar) only when they actually create value.
Hands-on management

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SAN FRANCISCO ISN'T EASY
We work within the code, buy at a discount, and unlock value.
SF’s strict rules and limited supply keep most investors out but that’s what protects returns.
ANNUAL RENT GROWTH SINCE 1956
THROUGH DOWNTURNS
6.6%
BELOW PEAK PRICING CREATES
RARE ENTRY POINTS
30-50%
STEADY DEMAND
TIGHT SUPPLY
AFTER EVERY CRASH
FAST RECOVERIES
WE'VE OPERATED THROUGH BOOMS, BUSTS, AND EVERYTHING IN BETWEEN
Built Through Cycles. Proven Over Time.
We've Improved and Operated Hundreds of Properties Since '90s.
Always following the same disciplined approach:
Buy at the right basis
Improve what matters
Operate with precision
Exit when the time is right
It’s not a theory.
It’s a track record built over 35 years and still growing.
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